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Best Milton Friedman Quotes & Sayings

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Top Best Milton Friedman Quotes

Best Milton Friedman Quotes By Milton Friedman

A real gold standard is thoroughly consistent with [classical] liberal principles and I, for one, am entirely in favor of measures promoting its development. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

Complete free trade is not politically feasible. Why? Because it's only in the general interest and in no one's special interest. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

Government has three primary functions. It should provide for military defense of the nation. It should enforce contracts between individuals. It should protect citizens from crimes against themselves or their property. When government
in pursuit of good intentions tries to rearrange the economy, legislate morality, or help special interests, the cost come in inefficiency, lack of motivation, and loss of freedom. Government should be a referee, not an active player. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

The only corporate social responsibility a company has is to maximize its profits. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

My major problem with the world is a problem of scarcity in the midst of plenty ... of people starving while there are unused resources ... people having skills which are not being used. — Milton Friedman

Best Milton Friedman Quotes By David Howden

Analysis predating [Milton] Friedman's gave a different answer to question of the Fed's policy errors [during the Great Depression] and new scholarship is validating the old wisdom. It now appears that Friedman will be merely an interlude between the sounder analysis of economists contemporary to the Great Depression and those who have rediscovered their insights. --Jeff Herbener — David Howden

Best Milton Friedman Quotes By Milton Friedman

Significant changes in the growth rate of money supply, even small ones, impact the financial markets first. Then, they impact changes in the real economy, usually in six to nine months, but in a range of three to 18 months. Usually in about two years in the US, they correlate with changes in the rate of inflation or deflation."
"The leads are long and variable, though the more inflation a society has experienced, history shows, the shorter the time lead will be between a change in money supply growth and the subsequent change in inflation. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

The euro is good for Europe. But only if there is flexibility all around. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

At the end of World War II, we had wage and price controls. Under wartime inflationary conditions, many employers found it difficult to recruit employees. To get around the limitations of wage control, many began to offer health care as a fringe benefit to attract workers. As a new benefit, it took some years for the Internal Revenue Service to get around to requiring the cost of the medical care to be included in the reported taxable income of the employees. By the time it did, workers had come to regard nontaxable medical care provided by the employer as a right - or should I say entitlement? They raised such a big political fuss that Congress legislated nontaxable status for employer-provided medical care. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

There is no good way of measuring poverty. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

The Internet moves us closer to "perfect information" on markets. Individuals and companies alike can buy and sell across borders and jurisdictions wherever they find the best match of supply and demand. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

What would the people who sold us goods do with the money? They'd get dollars. What would they do with the dollars? Eat them?! — Milton Friedman

Best Milton Friedman Quotes By Naomi Klein

It was in 1982 that Milton Friedman wrote the highly influential passage that best summarizes the shock doctrine. " Only a crisis-actual or percieved-produces real change. When the crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes politically inevitable. — Naomi Klein

Best Milton Friedman Quotes By Milton Friedman

If you spend your own money on yourself, you care how much you spend and how well you spend it. If you spend your own money on someone else, you care how much you spend, but you don't care how well it is spent. If you spend someone else's money on yourself, you don't care how much you spend, but you do care how well it is spent. And finally, if you spend someone else's money on someone else, you don't care how much you spend, and you don't care how well it is spent. That is government. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

You never can cure poverty. Poverty is in the eye of the beholder. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

This plea comes from the bottom of my heart. Every friend of freedom, and I know you are one, must be as revolted as I am by the prospect of turning the United States into an armed camp, by the vision of jails filled with casual drug users and of an army of enforcers empowered to invade the liberty of citizens on slight evidence. A country in which shooting down unidentified planes "on suspicion" can be seriously considered as a drug-war tactic is not the kind of United States that either you or I want to hand on to future generations. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

The present oil crisis has not been produced by the oil companies. It is a result of government mismanagement exacerbated by the Mideast war. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

If the only motive was to help people who could not afford education, advocates of government involvement would have simply proposed tuition subsidies. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

In response to a suggestion that total free trade would end in cheaper foreign products flooding the market and causing unemployment. — Milton Friedman

Best Milton Friedman Quotes By Vikram Mansharamani

If you put the government in charge of the Sahara Desert, in five years there'd be a shortage of sand. - Milton Friedman — Vikram Mansharamani

Best Milton Friedman Quotes By Milton Friedman

Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

It is taken for granted that workers should receive their pay partly in kind, in the form of medical care provided by the employer. How come? Why single out medical care? Surely food is no less essential to life than medical care. Why is it not at least as logical for workers to be required to buy their food at the company store as to be required to buy their medical care at the company store? — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

Thanks to economists, all of us, from the days of Adam Smith and before right down to the present, tariffs are perhaps one tenth of one percent lower than they otherwise would have been. ...
And because of our efforts, we have earned our salaries ten-thousand fold. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

Whenever we depart from voluntary cooperation and try to do good by using force, the bad moral value of force triumphs over good intentions. — Milton Friedman

Best Milton Friedman Quotes By Franco Modigliani

Economists agree about economics - and that's a science - and they disagree about economic policy because that's a value judgment ... I've had profound disagreements on policy with the famous Milton Friedman. But, on economics, we agree. — Franco Modigliani

Best Milton Friedman Quotes By Milton Friedman

The state of our educational system is a disgrace to our country. We have an elementary and secondary school system in which close to half of the youngsters never graduate properly. It's a disgrace that there is more illiteracy today than there was 100 years ago. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

The most important single central fact about a free market is that no exchange takes place unless both parties benefit. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

There is no figure who had more of an influence, no person had more of an influence on the intellectuals behind the Iron Curtain than Friedrich Hayek. His books were translated and published by the underground and black market editions, read widely, and undoubtedly influenced the climate of opinion that ultimately brought about the collapse of the Soviet Union. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

The fall of the Berlin Wall did more for the progress of freedom than all of the books written by myself or Friedrich Hayek or others. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

Who Protects the Consumer? "It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages. Nobody but a beggar chuses to depend chiefly upon the benevolence of his fellow citizens." - Adam Smith, The Wealth of Nations, vol. I, [>] — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

The combination of economic and political power in the same hands is a sure recipe for tyranny. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

No arbitrary obstacles should prevent people from achieving those positions for which their talents fit them and which their values lead them to seek. Not birth, nationality, color, religion, sex, nor any other irrelevant characteristic should determine the opportunities that are open to a person - only his abilities. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

The stock market and economy are two different things. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

My monetary studies have led me to the conclusion that central banks could profitably be replaced by computers. Fortunately, for me personally, that conclusion has had no practical impact, else there would have been no Central Bank of Sweden to have established the award [Nobel Prize] I am honored to receive. — Milton Friedman

Best Milton Friedman Quotes By Milton Friedman

There is no other complex field in our society in which do-it-yourself beats out factory production or market production. Nobody makes his or her own car. But it is still the case that parents can perform the job of educating their children [homeschooling], in many cases better than our present education system. — Milton Friedman